Member Info for Doc83

You’re annoying as hell, Stockmaiden.

But congrats on Oracle Power today. +66% and +300% over the last year.

“ Short answer: In most practical scenarios, it’s highly unlikely that PetroChina could drill 100 new oil wells in Mongolia in a single year, given the operational, logistical, and seasonal constraints of drilling in that region.

Here’s why:

🛠 1. Global drilling rates occur, but under specific conditions

Large oil companies can drill many wells — for example, in prolific onshore basins in the U.S., majors like ExxonMobil have drilled hundreds of wells over several years (e.g., drilling their 1,000th Delaware Basin well over ~7 years), which averages over 100 wells per year across a large, developed acreage base. 

But that’s in a vast, highly developed shale basin with many rigs and established logistics, not in a remote frontier production area like Mongolia.

🌏 2. Operational context in Mongolia is very different

In Mongolia (e.g., PetroChina’s operations in the Tamsag Basin), drilling programs are smaller, with far fewer wells per year historically. Field activity tends to involve a handful of wells annually due to:

• Remote location and logistics — mobilising rigs and supplies in eastern Mongolia is slower and more expensive than in established basins.

• Seasonal constraints — harsh winters severely limit the drilling season.

• Infrastructure limitations — limited supporting facilities and workforce restrict simultaneous drill sites.

Public information about drilling in Mongolia indicates only a small number of wells drilled over time, even by companies actively developing fields. 

📉 3. Typical realistic drilling cadence for Mongolia

In Mongolian fields operated under production sharing or joint arrangements (including PetroChina’s adjacent block operations), drilling programs tend to be modest (several wells per year) rather than large-scale multi-rig campaigns often seen in North America. Even ambitious early development programs in Mongolia have focused on a few wells per year, not dozens or hundreds. 

🧠 Summary — 100 wells a year is unlikely”

“ Adw, in your opinion Gazelle was a DUD, please explain”

Marg, can you give us the quote and when Adw said this?

What price do you need? I'll crack open the champagne for you if it happens.

I see someone has had to flip over to their Margaritas account!

TBT, maybe trying playing the ball only for a bit. You've had warnings from LSE and even today some of your posts are being deleted.

Very decent volume (for POW!) today. Surely the company's buying... I expect an RNS tomorrow confirming as much.

"Warrior is the latest reincarnation of a poster called WiseOwlSpeaks. He’s probably on his 10th alias"

Adw198, you're rarely wrong. But it's way more than 10!!!

"Simple Maths & Logic!"

That's your problem. It's too simple. Hence you've lost a lot of money.

Tray, I've been here a few years now but possibly you have been more. Do you know of any large shareholders, or any at all, that would behave in such a way?

I'm conscious to the fact that selling has been going on for some time now.

Scotty, do everyone a favour and sell your shares to POW for 15p!

"I also like this reference from Buck"

A. We are looking at this.

You are easily pleased, WOS!

ClimbingWooster, no point filtering someone and then still commenting on them or the green boxes.

So 600k ish shares bought. The bulk of those on day 1. But even if we call it 150k average per day bought back, that’s 115 days. So this really could take several months. However, the prices being paid are increasing each day.

We’re day 4 into the buyback. Expect it to take months. Certainly, all the stocks I looked at which have done buybacks recently did. POW’s liquidity is pitiful. Remember POW need sellers to buy from.

Additionally, they don’t want to overpay. While we all want to see the SP instantly double, that would potentially mean those 17.25m shares being bought at £5m rather than £2.5m. That’s our money! It’s a fine balance…buying shares back but not too expensive or too fast.

Also remember that they’ll likely cancel these shares bought and so even if the SP did stay around these levels at the end of the buyback, it would still mean we all own a bigger slice of the POW pie, and if we did get some good news from uranium, Minestarters or wherever, that the SP would increase more because of less shares in issue.

New2Shares1 - Stockmaiden is massively deramping. It's actually gone from 38p to 1.15p currently, although did fall into the 0.7's.

Of course, there's also now a billion more shares in issue, so that 38p is actually even further away in reality.

But MG and China need the oil, and MATD, the microcap UK-listed oiler is going to be the saviour. So buy buy buy.

Bid looks like it has tightened up, 15/15.5p so more progress today.

It really would be a win if we can get some very good news and the 17.25m shares bought at or around these levels are then sold on to someone else at a much higher price!

Mike, both trades done within seconds of each other with a 0.01p spread. That is almost certainly someone flipping their holding between accounts.

My guess is that Mike knows MATD are potentially finished this year. PC continuing to play silly buggers.

The MG absolutely need the oil but they’ve proven themselves untrustworthy and unwilling to work in a Western way, and will not allow a piddly UK-listed entity and its predominantly Western investors to benefit.